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Midwest Factories Hum Less

July 12, 1997|By George Gunset.

Midwest manufacturing activity fell 0.1 percent in May, the first decline in seven months, the Federal Reserve Bank of Chicago said. All categories of Midwest manufacturing grew at slower rates than their counterparts on a national level. The auto industry fared the worst, hit by slowing sales and a strike at Chrysler Corp., the report said. Analysts had expected the slowdown as a lull in consumer spending led retailers to meet demand from existing inventory.